NIO (NYSE:NIO) Shares Gap Down – Time to Sell?

Nio Inc – (NYSE:NIO) gapped down prior to trading on Thursday . The stock had previously closed at $4.22, but opened at $3.90. NIO shares last traded at $3.99, with a volume of 70,831,958 shares changing hands.

Analyst Ratings Changes

A number of brokerages recently weighed in on NIO. Citigroup lowered their target price on shares of NIO from $8.90 to $8.10 and set a “buy” rating on the stock in a report on Monday. JPMorgan Chase & Co. cut shares of NIO from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $7.00 to $4.70 in a report on Tuesday, February 4th. HSBC cut NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Mizuho cut their price objective on NIO from $5.00 to $4.20 and set a “neutral” rating for the company in a research report on Monday. Finally, Hsbc Global Res lowered NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $5.00.

NIO Price Performance

The firm has a market capitalization of $8.32 billion, a price-to-earnings ratio of -2.65 and a beta of 1.81. The company’s 50 day moving average is $4.44 and its 200 day moving average is $4.86. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

NIO (NYSE:NIO) last posted its quarterly earnings data on Friday, March 21st. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.14). NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The business had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $20.19 billion. During the same period in the prior year, the firm earned ($2.81) EPS. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. On average, equities research analysts anticipate that Nio Inc – will post -1.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NIO

A number of large investors have recently added to or reduced their stakes in the stock. PDS Planning Inc lifted its position in shares of NIO by 13.0% during the 4th quarter. PDS Planning Inc now owns 22,786 shares of the company’s stock valued at $99,000 after acquiring an additional 2,627 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its position in NIO by 25.3% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 13,440 shares of the company’s stock worth $59,000 after purchasing an additional 2,712 shares during the period. Franklin Resources Inc. grew its stake in NIO by 20.4% during the fourth quarter. Franklin Resources Inc. now owns 16,486 shares of the company’s stock worth $72,000 after buying an additional 2,788 shares in the last quarter. Perigon Wealth Management LLC increased its holdings in NIO by 24.1% in the 4th quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company’s stock valued at $61,000 after buying an additional 2,867 shares during the period. Finally, TD Waterhouse Canada Inc. raised its position in shares of NIO by 17.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 21,653 shares of the company’s stock valued at $94,000 after buying an additional 3,152 shares in the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

About NIO

NIO Inc designs, manufactures, and sells electric vehicles in the People's Republic of China. The company is also involved in the manufacture of e-powertrain, battery packs, and components; and racing management, technology development, and sales and after-sales management activities. In addition, it offers power solutions for battery charging needs; and other value-added services.